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green currency


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The currencies of members of the European Union using artificial rates of exchange for the purposes of the Common Agricultural Policy (CAP). Their object was to protect farm prices in the member countries from wide variations caused by fluctuations in the real rates of exchange. The need for green currencies was greatly reduced by the European Monetary System and with the advent of the single European currency the term is now seldom used (See European Economic and Monetary Union.)

Subjects: Business and Management — Economics.


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